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Warner Bros. Discovery is splitting into two companies in 2026: Here's what that'll mean for DC, HBO Max, and you

You might have questions about the news that DC and HBO parent company Warner Bros Discovery is splitting in two in 2026 - we have answers

News by Graeme McMillan, Editor

Published on Mon Jun 09 2025

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Reverting the name of its streaming service from Max back to HBO Max isn’t the only about-face Warner Bros. Discovery is making in the near future — the company has confirmed speculation that it will split into two separate entities by mid-2026, separating its movie and cable businesses one more time. But what does this mean for you? We have some quick answers to your questions.

What is going on?

In short, the 2022 merger of Warner Bros. and Discovery Networks is being undone in an attempt to streamline the company/companies and offload debt. The reorganization isn’t exactly reverting back to the pre-2022 realities — the two companies, currently officially untitled but being referred to as ‘Streaming & Studios’ and ‘Global Networks,’ will have a slightly different line-up, with ‘Streaming & Studios’ (essentially what used to be Warner Bros) surrendering Cartoon Network and CNN while holding on to TNT Sports — but, essentially, the thinking that was behind the merger is no longer in play: bigger, it turns out, isn’t always better.

WBD chairman David Zaslav will head up ‘Streaming & Studios,’ while WBD chief financial officer Gunnar Widenfels will be uncharge of ‘Global Networks.’ The majority of Warner Bros. Discovery’s debt, which stood at around $34 billion at the end of the first quarter of 2025, will be assigned to ‘Global Networks,’ although ‘Streaming & Studios’ will maintain some percentage of that debt.

I have a Max subscription, will I have to sign up for a new platform to keep streaming Ghost Hunters?

Max (AKA HBO Max) will be part of ‘Streaming & Studios,’ but the Discovery Network shows that provide so much of the content for the streamer will be part of ‘Global Networks,’ which will be streaming via Discovery+. That means if you want to stream shows from TNT, TBS, Turner Classic Movies, OWN, HGTV, Food Network, TLC, Discovery Channel, Animal Planet, Cartoon Network, Adult Swim, or CNN, you’ll have to sign up for Discovery+ after the split.

Here’s something to complicate matters: a lot of Cartoon Network and Adult Swim properties are based on properties owned by, or outright owned by, Warner Bros. Animation and Hanna-Barbera — which will be part of ‘Streaming & Studios.’ How that is going to work out, we’ll have to wait and see.

Where is DC in all of this?

DC Studios and DC Comics will be part of ‘Studios & Streaming,’ which means that DC properties will continue to stream on (HBO) Max.

When is the split happening?

According to Warner Bros. Discovery, the two companies are expected to be spun-off by mid-2026.

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Graeme McMillan: Popverse Editor Graeme McMillan (he/him) has been writing about comics, culture, and comics culture on the internet for close to two decades at this point, which is terrifying to admit. He completely understands if you have problems understanding his accent.